Problem 7-2: The Mozilla Corporation The Mozilla Corporation uses the periodic inventory method. The following data were available from the trial balance for the year ended October 31, 2021. Amount 1505 Account Inventory October 31, 2020 Sales Purchases Purchase Returns and Allowances Freight Inwards Cash Discounts on Purchases 6000 2400 63 42 A physical count of inventory on October 31, 2021 revealed inventory in the amount of 600 Required 1. Compute Cost of Goods Sold. 2. Compute Gross Margin. 3. Prepare closing entries to close the purchases and related accounts. Upon completion, enter the following data here and prepare a journal entry to record cost of goods sold: Cost of goods sold for the year ended December 31, 2021: 1. Compute Cost of Goods Sold. 2. Compute Gross Margin. 3. Prepare dosing entries to close the purchases and related accounts. Upon completion, enter the following data here and prepare a journal entry to record cost of goods sold: Cost of goods sold for the year ended December 31, 2021: Gross margin for the year ended December 31, 2021: Journal entry to record Cost of Goods Sold